Canal Capital Management LLC Decreases Stock Position in American Tower Corporation $AMT

Canal Capital Management LLC cut its stake in American Tower Corporation (NYSE:AMT) by 39.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 18,951 shares of the real estate investment trust’s stock after selling 12,108 shares during the period. Canal Capital Management LLC’s holdings in American Tower were worth $3,328,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its holdings in American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after purchasing an additional 2,104 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in American Tower by 34.3% in the second quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock worth $319,000 after purchasing an additional 368 shares during the last quarter. United Bank boosted its position in shares of American Tower by 12.7% during the second quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock valued at $1,434,000 after buying an additional 733 shares during the period. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of American Tower during the second quarter valued at approximately $243,000. Finally, Empowered Funds LLC grew its stake in shares of American Tower by 170.4% during the second quarter. Empowered Funds LLC now owns 29,906 shares of the real estate investment trust’s stock valued at $6,610,000 after buying an additional 18,846 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 1.1%

Shares of NYSE AMT opened at $182.70 on Friday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market capitalization of $85.15 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 0.76 and a beta of 0.92. The stock has a 50 day moving average price of $182.24 and a 200 day moving average price of $183.66. American Tower Corporation has a 52-week low of $166.88 and a 52-week high of $234.33.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 24th. The real estate investment trust reported $1.75 EPS for the quarter, missing the consensus estimate of $2.54 by ($0.79). The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.69 billion. American Tower had a return on equity of 24.36% and a net margin of 23.76%.The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.62 earnings per share. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. Sell-side analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th will be paid a dividend of $1.79 per share. This is an increase from American Tower’s previous quarterly dividend of $1.70. This represents a $7.16 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, April 14th. American Tower’s payout ratio is 126.16%.

Insider Buying and Selling at American Tower

In other news, Director Rajesh Kalathur acquired 2,671 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average cost of $185.30 per share, for a total transaction of $494,936.30. Following the completion of the acquisition, the director directly owned 4,936 shares of the company’s stock, valued at $914,640.80. The trade was a 117.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Eugene M. Noel sold 41,209 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the completion of the sale, the chief operating officer directly owned 29,592 shares of the company’s stock, valued at approximately $5,653,551.60. This trade represents a 58.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of research analyst reports. Morgan Stanley decreased their price target on American Tower from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. TD Cowen cut their price objective on American Tower from $235.00 to $225.00 in a research report on Wednesday, February 25th. JPMorgan Chase & Co. reduced their target price on American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. The Goldman Sachs Group decreased their target price on American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 16th. Finally, Royal Bank Of Canada lowered their target price on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating for the company in a research note on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average price target of $217.35.

American Tower Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.